The European Commission has, under EC Treaty State aid rules, approved restructuring aid of €33.5 million which Poland intends to grant to Huta Stalowa Wola S.A. (HSW), a construction and military equipment producer. In 2005, HSW had about 1,400 employees, as compared to 3,173 in 2002. The Commission authorised restructuring aid for HSW in 2006, but due to changing market conditions HSW notified a revised restructuring plan to the Commission, with the main change being the planned conversion into equity of two loans from the Polish Industrial Development Agency to improve the company's liquidity and help it to raise additional funds for the restructuring.